Personal Monthly Budget Template

How to use a personal monthly budget

Money either provides plenty of opportunity or can be a pillar of stress. When you’re a child, you long for money to be able to purchase items that you are interested in. When you become an adult and have to work for money, it can feel like a burden. Creating a budget can help mediate the stress that money can bring. Think of it as training your money. Once you master the training, budgeting can become as natural as breathing. The first objective in creating a budget is understanding what you spend your money on each month. You may not always remember what you ate last night, but you will remember that money was spent to purchase it. Microsoft Excel provides an excellent opportunity to use their personal monthly budget template. Having a template makes the work extremely easy.

To utilize Excel templates, you must first have access to Microsoft Excel. Once that is established you can search for the right personal monthly budget template to your liking. Once you find a template, then Excel will open up the personal monthly budget template spreadsheet for you to work on. A good personal monthly budget template will have everything laid out for you. This just leaves you with adding the correct calculations. A good rule of thumb for your budget should be to start with all of your expenses. Start with absolute necessities such as rent or mortgage, utilities, and car payments. Figuring out what is a want and what is a need is imperative to create an accurate budget. The spreadsheet sample can also automatically calculate a section such as your daily living budget. Since Excel takes the headache of math out of the equation, you can solely focus on inputting the correct information.
An example section of your personal monthly budget template excel spreadsheet can be seen below:

EXPENSES HOME
Mortgage/Rent$ 1280.00
Home/Rental Insurance$ 25.00
Electricity$ 40.00
Gas/Oil$ 80.00
Water/Sewer/Trash$ 20.00
Phone$ 50.00
Cable/SatelliteInternet$ 49.00
Furnishing/Appliances
Lawn/Garden
Maintenance/Improvements
Other
Total$ 1544.00

With the plug and calculate method, there is no excuse to not have a personal budget.
The Personal monthly budget template spreadsheet also features a unique graph visual to compare income, expenses, and savings goals. Seeing a visual of what you make versus what you plan to save and pay for can be a real eye opener. You may start to question if you really need to dine out multiple times in a week. You may think about limiting your travel by cutting gas expenses. The important lesson to learn about utilizing a personal budget is to not punish yourself. For the most part, we are not properly trained in learning how to utilize a budget. This tool can help educate yourself and others. In times of crisis, it is good to know that you have a nest egg of emergency funds to help temporarily. Having a personal budget can also help you achieve your goals. If you set out a goal to save $10,000 for the year, the personal budget can help you determine if that is feasible with your current income.

Decluttering your mind with a personal budget, allows for tremendous growth. Play around with different formats because you want to work with a template that visually appeals to you. Visit www.exceltemplates.net to see a wide variety of templates to choose from. The website is easy to navigate and offers plenty of options to choose from. They have event specific templates that allow you to personally budget for whatever you desire. The month of December is always important for different holidays. Excel Templates offers different templates to help you properly prepare for the month of purchases that you will make. Saving money for the whole year has become popular. There is a template called the 52-week money savings challenge. If you couple that template with a personal monthly budget, you can knock out two birds with one stone. The magic of excel also allows you to print out the completed form to take with you everywhere.

Use this information to better your chances in living comfortably. It can be completely eye opening to realize what you spend your money on. So why not utilize templates embedded in Excel or online to help you budget. You don’t need to be an excel expert to properly use them. Most of the work is done for you. You just need to input the correct numbers and then you are on your way to financial freedom. If you fail to plan then you plan to fail. Utilizing the budget templates can help you properly determine if you can comfortably travel. You can also figure out if it is in your budget to have a child and the expenses that come with that. Using a personal monthly budget template excel sheet correctly can be the gift that keeps on giving.

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